American Century Companies Inc. Purchases 6,306 Shares of Landstar System, Inc. $LSTR

Key Points

• American Century Companies Inc. increased its stake in Landstar System, Inc. by 8.7%, owning 78,375 shares worth approximately $11.77 million.
• Landstar System recently reported quarterly earnings of $1.20 EPS, beating estimates, but showed a 1.1% decline in year-over-year revenue.
• The company declared a quarterly dividend of $0.40 per share, with a dividend yield of 1.2% and a payout ratio of 33.54%.

American Century Companies Inc. raised its holdings in shares of Landstar System, Inc. (NASDAQ:LSTR - Free Report) by 8.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 78,375 shares of the transportation company's stock after purchasing an additional 6,306 shares during the quarter. American Century Companies Inc. owned approximately 0.22% of Landstar System worth $11,772,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in LSTR. Alpine Bank Wealth Management acquired a new stake in Landstar System during the 1st quarter valued at $25,000. Colonial Trust Co SC lifted its holdings in Landstar System by 61.7% during the 4th quarter. Colonial Trust Co SC now owns 186 shares of the transportation company's stock valued at $32,000 after purchasing an additional 71 shares during the last quarter. Golden State Wealth Management LLC lifted its holdings in Landstar System by 106.2% during the 1st quarter. Golden State Wealth Management LLC now owns 299 shares of the transportation company's stock valued at $45,000 after purchasing an additional 154 shares during the last quarter. First Horizon Advisors Inc. lifted its holdings in Landstar System by 35.3% during the 1st quarter. First Horizon Advisors Inc. now owns 322 shares of the transportation company's stock valued at $48,000 after purchasing an additional 84 shares during the last quarter. Finally, Allworth Financial LP lifted its holdings in Landstar System by 58.5% during the 1st quarter. Allworth Financial LP now owns 344 shares of the transportation company's stock valued at $48,000 after purchasing an additional 127 shares during the last quarter. Institutional investors and hedge funds own 97.95% of the company's stock.

Analyst Upgrades and Downgrades

LSTR has been the subject of a number of research reports. Stifel Nicolaus dropped their target price on Landstar System from $140.00 to $131.00 and set a "hold" rating for the company in a report on Thursday, July 31st. Evercore ISI dropped their target price on Landstar System from $135.00 to $132.00 and set an "in-line" rating for the company in a report on Wednesday, July 30th. Susquehanna set a $123.00 target price on Landstar System and gave the stock a "neutral" rating in a report on Wednesday, July 30th. Barclays initiated coverage on Landstar System in a report on Monday, June 9th. They set an "equal weight" rating and a $145.00 target price for the company. Finally, Robert W. Baird initiated coverage on Landstar System in a research report on Tuesday, July 1st. They issued an "outperform" rating and a $166.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $145.17.

Landstar System Price Performance

Landstar System stock traded up $0.52 during midday trading on Friday, reaching $132.33. The company's stock had a trading volume of 286,158 shares, compared to its average volume of 380,166. Landstar System, Inc. has a 52 week low of $123.43 and a 52 week high of $196.86. The stock has a market cap of $4.59 billion, a PE ratio of 27.74 and a beta of 0.86. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 0.06. The business has a 50-day moving average price of $136.06 and a 200-day moving average price of $141.31.

Landstar System (NASDAQ:LSTR - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The transportation company reported $1.20 EPS for the quarter, beating analysts' consensus estimates of $1.16 by $0.04. Landstar System had a return on equity of 17.49% and a net margin of 3.51%.The company had revenue of $1.21 billion during the quarter, compared to analysts' expectations of $1.21 billion. During the same period in the prior year, the company earned $1.48 EPS. Landstar System's revenue was down 1.1% compared to the same quarter last year. On average, sell-side analysts predict that Landstar System, Inc. will post 6.1 EPS for the current year.

Landstar System Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 9th. Stockholders of record on Tuesday, August 19th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Tuesday, August 19th. Landstar System's payout ratio is 33.54%.

Landstar System Profile

Landstar System, Inc provides integrated transportation management solutions in the United States, Canada, Mexico, and internationally. It operates through two segments: Transportation Logistics and Insurance. The Transportation Logistics segment offers a range of transportation services, including truckload and less-than-truckload transportation, rail intermodal, air cargo, ocean cargo, expedited ground and air delivery of time-critical freight, heavy-haul/specialized, U.S.-Canada and U.S.-Mexico cross-border, intra-Mexico, intra-Canada, project cargo, and customs brokerage, as well as offers transportation services to other transportation companies, such as third party logistics and less-than-truckload services.